Could GBP/EUR Rates Move Through 1.23 This Week? (Matthew Vassallo)

The Pound Continues Its Fightback

GBP/EUR exchange rates continue to sit close to a sixteenth month high, providing some excellent buying opportunities. With little movement on the currency pair during Tuesday morning’s trading, despite a raft of Eurozone inflation data, it is likely that the markets will be waiting for the release of UK economic data tomorrow, before making its next decisive move.

With UK unemployment data and the Bank of England’s (BoE) quarterly inflation report, along with a speech by BoE governor Mark Carney, it is likely tomorrow’s releases will cause additional Sterling fluctuation. If as anticipated UK unemployment levels fall, we may see GBP/EUR levels put pressure on 1.23

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